This is a political forum that is non-biased/non-partisan and treats every persons position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the FAQ and RULES. Registering for debate politics is necessary before posting. Register today to participate and remove the ads - it's free!

Pound 'buying less than a Euro'

This collapse is just astonishing. Just a few days I linked a shocking news piece here about the pound costing only 1.10ish Euro. The British economy is declining so rapidly that they want to adopt the Euro. I hope they will not, taking such a falling economy burdened by debt into the Eurozone would not be worthwhile.

Re: Pound 'buying less than a Euro'

Every currency is facing problems, UK included.
When this economic crisis blows over, UK Pound will take back its rightful place. Above the Euro.

I just hope to God Labour does not drag down UK to the tyranny of the EU and all that is entailed with it, Euro included.

Whats tyranically about the Euro? What is tyranical about economic union(which it mostly is), what is tyrranical even about political union?

You should pray to God rather than you become members and are not allowed to take on debt in the speed you are doing to save the indebted economy with even more debts. I think your politicians are dragging your economy down to near collapse at the moment.

Re: Pound 'buying less than a Euro'

The European leaders were so pathetically slow in handling this crisis it had to follow UK's lead in this crisis and is still doing so. Seems European countries still needs someone to hold their hand. No wonder they will never emerge as a superpower.

As long as Ireland says No to the treaty, we are safe
I dread the day Parliaments Soverignty is handed over

Re: Pound 'buying less than a Euro'

Originally Posted by Laila

The European leaders were so pathetically slow in handling this crisis it had to follow UK's lead in this crisis and is still doing so. Seems European countries still needs someone to hold their hand. No wonder they will never emerge as a superpower.

The crisis is not as severe in continental Europe as in the UK or Ireland. They have acted fast but have avoided throwing too much money into the flames like the UK is doing now, I an many believe that will only make things worse. Dont you?

I think the best solution would be to broaden the European infrastructure fund, put hundreds of millions into it instead of giving it to banks. Also I think we need to start rebuilding our cities properly and invest heavily in rural development. Spain is the heaviest stone in the EU right now, but could be cured by building new rail infrastructure for example which would create jobs. Dropping the Euro a bit to offset the fall in export and manufacturing would also help.

The European economy at the moment is the strongest set for global consumption, which I did predict a year ago. Perhaps a new wave of consumption in Europe will offset any other falls, but then end up like the US in the end like I also predicted.

Re: Pound 'buying less than a Euro'

Originally Posted by Maximus Zeebra

The crisis is not as severe in continental Europe as in the UK or Ireland. They have acted fast but have avoided throwing too much money into the flames like the UK is doing now, I an many believe that will only make things worse. Dont you?

Im not a economic expert.
Those surrounding the Prime Minister are.
I will trust his judgement until i have ben given reason to doubt it.

I know despite this crisis, UK and the pound will jump back up. It always has.

Re: Pound 'buying less than a Euro'

Originally Posted by Laila

Im not a economic expert.
Those surrounding the Prime Minister are.

Are they now? Maybe they are in the traditional way of speaking, but this crisis needs untraditional solutions. No matter untraditional or traditional I hardly believe taking on more debt is the solution to stay afloat. Maybe in the short run, but in the long term it will break the economy.

Originally Posted by Laila

I will trust his judgement until i have ben given reason to doubt it.

Sorry that you do.

Originally Posted by Laila

I know despite this crisis, UK and the pound will jump back up. It always has.

If you continue taking on more debt it can only fall. No one wants to invest in an indebted society do they? Where is the safety in that? And if people do not buy the pound which they will not in such a scenario it can only keep falling until offset by rising exports, and those will not make up for all the loss in between. The US could do this, and can perhaps wriggle their way out of it, but the UK cannot do the same, the economy is too small and may be the second victim in the global economy after Italy which have already collapsed.